//+------------------------------------------------------------------+ //| RedK EVEREX | //| Converted from https://www.tradingview.com/v/I5qJDPxT/ | //+------------------------------------------------------------------+ #property indicator_separate_window #property indicator_buffers 12 #property strict /* User Notes: -------------------------- RedK EVEREX is an experimental indicator that explores "Volume Price Analysis" basic concepts and Wyckoff law "Effort versus Result" - by inspecting the relative volume (effort) and the associated (relative) price action (result) for each bar - showing the analysis as an easy to read "stacked bands" visual. From that analysis, we calculate a "Relative Rate of Flow" (RROF) - an easy to use +100/-100 oscilator that can be used to trigger a signal when a bullish or bearish mode is detected for a certain user-selected length of bars. What is RROF? -------------------------- * Once we have the values of relative volume and relative price strength, it's easy from there to combine these values into a moving index that can be used to track overall strength and detect reversals in market direction - if you think about it this a very similar concept to a volume-weighted RSI. I call that index the "Relative Rate of Flow" - or RROF (cause we're not using the direct volume and price values in the calculation, but rather relative values that we calculated with the proprietary "Normalize" function in the script. * You can show RROF as a single or double-period - and you can customize it in terms of smoothing, and signal line. * Once you attach RROF to a chart, you will see how the RROF is able to detect change in market condition from Bearsh to Bullish - then from Bullish to Bearish with good accuracy. * RROF is a "strength indicator" - it does not track price values (levels) or momentum - as you will see when you use it, the price can be moving up, while the RROF signal line starts moving down, reflecting decreasing strength (or otherwise, increasing bear strength) - So if you incorporate EVEREX in your trading you will need to use it alongside other momentum and price value indicators (like MACD, MA's, Trend Channels, Support & Resistance Lines, Fib / Donchian..etc) - to use for trade confirmation */ input int length = 10; // RROF Length input ENUM_MA_METHOD MA_Type = MODE_SMA; // RROF MA Type input int smooth = 3; // RROF Smooth input int sig_length = 5; // Signal Length input ENUM_MA_METHOD S_Type = MODE_SMA; // Signal Type input int lookback = 20; // Lookback Length input string lkbk_Calc = "Simple"; // Lookback Calc //+-----------------------------------------------------------------------------------------------------------+ input bool showBias = false; // Show Bias input int B_Length = 30; // Bias Length input ENUM_MA_METHOD B_Type = MODE_SMA; // Bias MA Type input bool showEVEREX = false; // Show EVEREX input int bandscale = 100; // Note: Band scale options ["100", "200", "400"] not directly available in MQL4 //+-----------------------------------------------------------------------------------------------------------+ input color RROFColor = clrDodgerBlue; // RROF Color input color SignalColor = clrRed; // Signal Color //+-----------------------------------------------------------------------------------------------------------+ input bool ShowVolume = false; // Show Volume input color VolumeColor = clrMagenta; // Volume Color input ENUM_LINE_STYLE VolumeStyle = STYLE_DOT; // Volume Style input bool ShowPrice = false; // Show Price input color PriceColor = clrDimGray; // Price Color input ENUM_LINE_STYLE PriceStyle = STYLE_DOT; // Price Style //+-----------------------------------------------------------------------------------------------------------+ input double Level = 40.0; // Level input ENUM_LINE_STYLE LevelsStyle = STYLE_DOT; // Levels Style input color LevelsColor = clrDimGray; // Levels Color //+-----------------------------------------------------------------------------------------------------------+ double VolaBuffer[]; double PriceaBuffer[]; double RROFBuffer[]; double SignalBuffer[]; double Bias[]; double Bv[]; double BarSpread_abs[]; double SrcShift_abs[]; double bulls[]; double bears[]; double RROF[]; double RROF_s[]; int maxPeriod; //+------------------------------------------------------------------+ //| | //+------------------------------------------------------------------+ int init() { IndicatorBuffers(12); SetIndexBuffer(0, RROFBuffer); SetIndexLabel(0,"RROF Smooth"); SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,1,RROFColor); SetIndexBuffer(1, SignalBuffer); SetIndexLabel(1,"Signal Line"); SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1,SignalColor); SetIndexBuffer(2, VolaBuffer); SetIndexLabel(2,"Volume Normalized"); SetIndexStyle(2,ShowVolume ? DRAW_LINE : DRAW_NONE,VolumeStyle,1,VolumeColor); SetIndexBuffer(3, PriceaBuffer); SetIndexLabel(3,"Price Normalized"); SetIndexStyle(3,ShowPrice ? DRAW_LINE : DRAW_NONE,PriceStyle,1,PriceColor); SetIndexBuffer(4, Bias); SetIndexLabel(4,"Bias"); SetIndexStyle(4,DRAW_NONE); SetIndexBuffer(5, Bv); SetIndexLabel(5,"Bv"); SetIndexStyle(5,DRAW_NONE); SetIndexBuffer(6, BarSpread_abs); SetIndexLabel(6,"BarSpread"); SetIndexStyle(6,DRAW_NONE); SetIndexBuffer(7, SrcShift_abs); SetIndexLabel(7,"SrcShift"); SetIndexStyle(7,DRAW_NONE); SetIndexBuffer(8, bulls); SetIndexLabel(8,"bulls"); SetIndexStyle(8,DRAW_NONE); SetIndexBuffer(9, bears); SetIndexLabel(9,"bears"); SetIndexStyle(9,DRAW_NONE); SetIndexBuffer(10,RROF); SetIndexLabel(10,"RROF"); SetIndexStyle(10,DRAW_NONE); SetIndexBuffer(11,RROF_s); SetIndexLabel(11,"RROF_s"); SetIndexStyle(11,DRAW_NONE); maxPeriod=MathMax(length,smooth); maxPeriod=MathMax(maxPeriod,sig_length); maxPeriod=MathMax(maxPeriod,lookback); maxPeriod=MathMax(maxPeriod,B_Length); IndicatorSetInteger(INDICATOR_LEVELS,3); IndicatorSetInteger(INDICATOR_LEVELCOLOR,LevelsColor); IndicatorSetInteger(INDICATOR_LEVELSTYLE,LevelsStyle); IndicatorSetDouble(INDICATOR_LEVELVALUE,0,0); IndicatorSetDouble(INDICATOR_LEVELVALUE,1,Level); IndicatorSetDouble(INDICATOR_LEVELVALUE,2,-Level); IndicatorShortName("RedK EVEREX"); return(0); } //+------------------------------------------------------------------+ //| | //+------------------------------------------------------------------+ int start() { int i,counted_bars=IndicatorCounted(); if(counted_bars<0) return(-1); if(counted_bars>0) counted_bars--; int limit=fmin(Bars-counted_bars,Bars-maxPeriod); double Vola,Vola_n_pre,Vola_n; // Volume "effort" Calculation for(i=limit;i>=0;i--) { Bv[i]=(double)Volume[i]; } for(i=limit;i>=0;i--) { Vola=iMAOnArray(Bv,0,length,0,MA_Type,i); Vola_n_pre = Normalize(Bv[i], Vola) * 100; Vola_n = Vola_n_pre; // Handle case of no volume data // Price "result" calculation double BarSpread = Close[i] - Open[i]; double BarRange = High[i] - Low[i]; double R2 = High[i+1] - Low[i+1]; double SrcShift = Close[i] - Close[i+1]; //double sign_shift = MathSign(SrcShift); double sign_shift; if(SrcShift<0){sign_shift=-1;}else{sign_shift=1;} //double sign_spread = MathSign(BarSpread); double sign_spread; if(BarSpread<0){sign_spread=-1;}else{sign_spread=1;} double barclosing = 2 * DivZero((Close[i] - Low[i]),BarRange) * 100 - 100; double s2r = DivZero(BarSpread,BarRange) * 100; BarSpread_abs[i] = MathAbs(BarSpread); double BarSpread_avg = iMAOnArray(BarSpread_abs, 0, lookback, 0, MA_Type, i); double BarSpread_ratio_n = Normalize(BarSpread_abs[i], BarSpread_avg) * 100 * sign_spread; double barclosing_2 = 2 * DivZero((Close[i] - Low[i+1]),R2) * 100 - 100; double Shift2Bar_toR2 = DivZero(SrcShift,R2) * 100; SrcShift_abs[i] = MathAbs(SrcShift); double srcshift_avg = iMAOnArray(SrcShift_abs, 0, lookback, 0, MA_Type, i); double srcshift_ratio_n = Normalize(SrcShift_abs[i], srcshift_avg) * 100 * sign_shift; double Pricea_n = (barclosing + s2r + BarSpread_ratio_n + barclosing_2 + Shift2Bar_toR2 + srcshift_ratio_n) / 6; double bar_flow = Pricea_n * Vola_n / 100; // Bulls and Bears calculation bulls[i] = MathMax(bar_flow, 0); bears[i] = -1 * MathMin(bar_flow, 0); double bulls_avg = iMAOnArray(bulls, 0, length, 0, MA_Type, i); double bears_avg = iMAOnArray(bears, 0, length, 0, MA_Type, i); double dx = DivZero(bulls_avg,bears_avg); RROF[i] = 2 * (100 - 100 / (1 + dx)) - 100; RROF_s[i] = iMAOnArray(RROF, 0, smooth, 0, MODE_SMA, i); // Signal line calculation double Signal = iMAOnArray(RROF_s, 0, sig_length, 0, S_Type, i); // Storing values in buffers VolaBuffer[i] = Vola_n; PriceaBuffer[i] = Pricea_n; RROFBuffer[i] = RROF_s[i]; SignalBuffer[i] = Signal; if(RROFBuffer[i]>SignalBuffer[i]) { if(RROFBuffer[i]>Level) Bias[i] = 4; else if(RROFBuffer[i]>0) Bias[i] = 3; else if(RROFBuffer[i]>-Level) Bias[i] = 2; else if(RROFBuffer[i]<-Level) Bias[i] = 1; } else if(RROFBuffer[i]-Level) Bias[i] = -3; else if(RROFBuffer[i]>0) Bias[i] = -2; else if(RROFBuffer[i]>Level) Bias[i] = -1; } else Bias[i] = 0; } return(0); } //double GetAverage(double data[], int len, ENUM_MA_METHOD MAOption) { // double value = 0; // switch (MAOption) { // case MODE_SMA: value = iMA(NULL, 0, len, 0, MODE_SMA, PRICE_CLOSE, 0); break; // case MODE_EMA: value = iMA(NULL, 0, len, 0, MODE_EMA, PRICE_CLOSE, 0); break; // case MODE_SMMA: value = iMA(NULL, 0, len, 0, MODE_SMMA, PRICE_CLOSE, 0); break; // case MODE_LWMA: value = iMA(NULL, 0, len, 0, MODE_LWMA, PRICE_CLOSE, 0); break; // } // return value; //} double Normalize(double Value, double Avg) { double X = DivZero(Value,Avg); double Nor = 0.1; // Default value if (X > 1.50) Nor = 1.00; else if (X > 1.20) Nor = 0.90; else if (X > 1.00) Nor = 0.80; else if (X > 0.80) Nor = 0.70; else if (X > 0.60) Nor = 0.60; else if (X > 0.40) Nor = 0.50; else if (X > 0.20) Nor = 0.25; return (Nor); } //+------------------------------------------------------------------+ //| | //+------------------------------------------------------------------+ double DivZero(double n,double d) { //+------------------------------------------------------------------+ // Divides N by D, and returns 0 if the denominator (D) = 0 // Usage: double x = DivZero(y,z) sets x = y/z // Use DivZero(y,z) instead of y/z to eliminate division by zero errors if(d == 0) return(0); else return(1.0*n/d); } //+------------------------------------------------------------------+ //+--------------------------- END ----------------------------------+